Van Berkom & Associates Inc. Purchases 43,617 Shares of Lyft, Inc. $LYFT

Van Berkom & Associates Inc. grew its position in Lyft, Inc. (NASDAQ:LYFT) by 125.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,417 shares of the ride-sharing company’s stock after purchasing an additional 43,617 shares during the period. Van Berkom & Associates Inc.’s holdings in Lyft were worth $1,519,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares in the last quarter. Focus Partners Wealth raised its holdings in Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after acquiring an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Lyft during the second quarter worth about $470,000. Invesco Ltd. raised its holdings in Lyft by 87.5% during the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after acquiring an additional 497,118 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Lyft by 12.6% during the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after acquiring an additional 79,634 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total value of $314,691.30. Following the transaction, the insider owned 696,850 shares of the company’s stock, valued at approximately $9,268,105. This represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill Beggs sold 2,093 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.89, for a total value of $29,071.77. Following the completion of the transaction, the director directly owned 32,185 shares in the company, valued at $447,049.65. The trade was a 6.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,699 shares of company stock valued at $771,756. 0.92% of the stock is owned by insiders.

Lyft Price Performance

Lyft stock opened at $14.06 on Tuesday. Lyft, Inc. has a 12 month low of $12.31 and a 12 month high of $25.54. The stock’s 50 day moving average is $13.66 and its 200-day moving average is $17.35. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.88 and a beta of 1.84.

Lyft declared that its board has approved a stock repurchase plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. DA Davidson dropped their target price on Lyft from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Zacks Research lowered Lyft from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. JPMorgan Chase & Co. dropped their target price on Lyft from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Finally, Wells Fargo & Company dropped their target price on Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Nine investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.55.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.